People buy umbrella Insurance because it provides a great financial protection that anyone can ask for. This type of policy usually starts from anywhere from $1M to maximum $10M dollars. It supports extra tier of coverage, in the event of any claims that exceed their Auto and/or home policy limits. Those protections include but are not limited to invasion of privacy, slander, libel and/or defamation related categories. It may also cover lawsuits/defense, attorney’s costs related expenses if person run into any of this kind of event. In general, this type of policy is a best avenue when person have to protect themselves as well as their families from having any financial crises from unexpected and unintentional liability type events.
What does Umbrella policy NOT cover?
It will not cover a person if that person causes any intentional related acts such as liability that arises from that person’s own harmful behavior. Also, any damage to the business property and/or losses that occurs from running a business will not be covered by the Umbrella Policy.
